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How to Calculate the Cost of a Casino Bonus With the current stiff competition in the casino industry, operators have resolved to use lucrative bonuses and promotions to lure new players to join their sites as well as loyal players to continue using their platform. These bonuses vary from one casino to the next and they are rewarded in form of free spins, bonus games, reload bonus, 100% match bonus, and etc. But the are they really free as they are portrayed? Or Is it a trap to drain your account? One funny thing about most (if not all) casino bonuses is that you must part with some money from your account before you withdraw the winnings. Crazy, Huh! Moreover, in order to withdraw your winnings, you must meet some wagering requirements and this will also vary depending on the casino or game you are playing. Before you get started, it is important to understand that it is not compulsory to take or use a casino bonus offer, you can ignore it if it's not pleasing you. But if you go for it, ensure to read and understand the terms and conditions first. Three Factors for Calculating the Cost of a Bonus The wagering requirement The Wagering Requirement The Wagering Percentage of a Game Nonetheless, the wagering percentage contributed by games like Blackjack, Baccarat, and Roulette is more complex because each operator has different requirements for these casino game variations. A good example is all casinos powered by Microgaming take 8% from Blackjack games. This implies that the wagering requirement will be higher than the initially stated 25 times. The House Edge of a Game It is important to understand that some games have a lower house edge than other, for example, whilst Blackjack has a house edge starting from as low as 1%, games like Keno have bad odd bets with over 50% house edge. Understanding the Bonus Trap The wagering requirement, the percentage contributed by the game, and the house edge merge to ensure that the player's wagering stays at a level where the expected loss is higher than the bonus amount. Possible loss = Amount wagered x House Edge For example, if you wager 1000 credits on a game with 1.5% house edge, your expected loss is 15 credits. Gambling to cash out a bonus, the total amount you will be expected to wager will be determined by the wagering requirement and the percentage contribution of the game, thus: Total Amount Wagered = (Deposit + Total Bonus) x WR x (100/% Contribution of the Game) Thus: Expected loss = (( Deposit + Total Bonus) x Wagering Requirement x (100 /% Contribution of the Game)) x House Edge Let us take a Blackjack, for example, you are rewarded with 100% match bonus of 50 with 30 times wagering requirement on your favorite Blackjack with a house edge of 0.5% or 0.005 and 10 percent contribution to the total wagering requirement. Your expected loss will be: Therefore, your expected loss in this game will be 150 credits. This is the naked truth about online casino bonuses, thus, think twice before you rush for a casino bonus offer. Final Thoughts
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How to Calculate the Cost of a Casino Bonus
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Save money! |